In a significant move within the data security and AI technology landscape, BigID, an innovative leader specializing in AI-augmented data security, has secured a $60 million growth funding round led by esteemed investors including Riverwood Capital, Silver Lake Waterman, and Advent. This recent influx of capital propels BigID’s total funding to an impressive $320 million, solidifying its standing in the market with a valuation exceeding $1 billion. This development is a testament to BigID’s pioneering approach towards AI data security, establishing it as a unicorn in its domain.

Founded in 2018, BigID has revolutionized the way enterprises view and secure their data across a variety of platforms, from the public cloud to SaaS and on-premise data centers. By harnessing the power of AI, BigID has introduced a universal framework to address data security, compliance, and privacy across all types of data—structured, unstructured, and semi-structured. This advancement comes at a crucial time when the explosion of generative AI has heightened the demand for sophisticated security solutions that can adeptly manage the complexities of various data forms including documents, images, and chats.

BigID’s unique platform has been fundamental in assisting enterprises to navigate the evolving landscape of data security, thereby driving significant customer ROI as these organizations build out their modern data infrastructures. The company’s latest innovations include advanced data hygiene capabilities specially designed for the generative AI data pipeline. These enhancements ensure diligent discovery, staging, enrichment, and the implementation of new controls for detecting and tracking model access to sensitive data.

The significance of BigID’s work cannot be overstated, especially in an era where data security and privacy concerns are paramount. The company’s response to these demands, coupled with its ambitious plans for both organic and inorganic growth using the latest funding, underscores its commitment to pioneering responsible and trusted AI initiatives.

Dimitri Sirota, CEO and Co-founder of BigID, highlighted the company’s rapid growth and its dedication to addressing the intricate needs of global enterprises in the hybrid cloud space. The funding is not just a financial boost but a strategic enabler for BigID to push boundaries in AI data security and compliance further.

Investors have expressed their confidence in BigID’s vision and capabilities. Francisco Alvarez-Demalde, Co-Founder and Managing Partner of Riverwood Capital, praised BigID for integrating a fragmented market with a holistic solution that empowers organizations to manage their enterprise data effectively across multiple dimensions, including security, privacy, and governance. Similarly, Shawn O’Neill, Managing Director and Group Head of Silver Lake Waterman, commended BigID for its pioneering data-centric security platform, which is becoming increasingly vital in the wake of generative AI’s growth.

BigID’s achievements have not gone unnoticed in the industry, with a series of accolades acknowledging its impact and innovation. The company has been recognized by CNBC, Forbes, Inc. 5000, Deloitte 500, and was named a “Market Leader Data Security Posture Management (DSPM)” in the Global InfoSec Awards, among other honors.

As data continues to be an invaluable asset for organizations worldwide, the role of companies like BigID in ensuring the security and integrity of this data becomes increasingly critical. With its latest funding round, BigID is poised to lead the charge in redefining data security and privacy norms in the age of AI, benefiting enterprises and consumers alike in the ever-evolving digital landscape.